Source Pravda.Ru

Russia And Kazakhstan Sign 10-Year Agreement On Cooperation In Gas Industry

Russia and Kazakhstan have signed an agreement on cooperation in the gas industry for 10 years. The Gazprom Press Service reported that Gazprom is authorized to implement the agreement on behalf of the Russian party, and the National Company 'Transportation of Oil and Gas' is authorized to implement the project on the Kazakhstan's party. In accordance with the agreement, special attention will be paid to working out a joint balance of supplies and transit of Russian and Kazakh gas; laying, reconstruction and use of gas pipelines and construction of other parts of the gas industry infrastructure; preparation of mutual projects of gas transportation via the territories of Russia and Kazakhstan to markets of third countries. It is also planned that the authorized companies will establish a joint venture to buy and market natural gas on mutually beneficial conditions, including gas supplied from the Karachaganakskoye gas deposit, and to act as an agent for implementation of mutual projects of gas transportation via the territories of Russia and Kazakhstan and construction of new facilities for gas transportation. A meeting between Gazprom head Alexei Miller and President of Kazakhstan Nursultan Nazarbayev was held after the signing to discuss questions of mutual projects in the gas industry.